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New TMC TakeTwo Launches in U.S.

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Travel management company TakeTwo
Travel Solutions, launched in the U.K. two
months ago
by former Corporate Travel Management North America CEO Chris
Thelan and former CTM general manager of the U.K. Julie Cope, now has set it
sights on the recovering business travel environment in the United States. 

Thelan and Cope positioned the new
travel management company as a “fresh start” for post-pandemic
business travel, which they believe will be complex and require a “human
touch.”

“There is an art to travel
management,” said Thelan in a press statement. “We look at this as a
profession, not an automated process. For us it is about customization.” Press
materials highlighted the TMC’s focus on traveler risk management, well-being
and business travel sustainability, and a technology stack that will offer
personalization and help anticipate business traveler needs.

The TMC concurrently cited its back-end
technology as a “standout feature” and characterized it as “a
single platform across all of our offices around the world.” The company
currently claims U.S.-based offices in Houston, Los Angeles and New York and a
U.K. location in London. Additional affiliate locations include Hong Kong,
Singapore, Sydney and Tokyo.  

TakeTwo highlighted its financial
position as free from lingering challenges of the Covid-19 pandemic and without
legacy debt—a jab, perhaps, at larger TMCs that emerged from the pandemic with
significant refinancing and investment from external partners. TakeTwo has
hired from among the many agency professionals laid off during the pandemic
and, according to a press release, will operate with a bias toward preserving
the critical human resources and skill sets that support business travel. 

According to the company
spokesperson, the firm already has clients in the U.S. and is working on a
pipeline of $100 million in managed travel spend and will pursue small- and
midsize clients in the region as well as push into the larger market.



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Bloomberg names Green ME of finance for Americas

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Rick Green

Rick Green has been named managing editor for finance in the Americas at Bloomberg News, effective July 11.

He is currently senior editor for markets at Bloomberg.

Green was previously a team leader for distressed company news. He was also corporate finance editor and a senior editor on the U.S. finance team.

Before Bloomberg, Green was assistant managing editor for business and technology at Newsday. He also worked at BusinessWeek magazine as a senior editor and at SmartMoney magazine.

 





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Liberty Steel secures time with Greensill as debt rstructuring continues

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Liberty Steel Group has entered a standstill agreement with Greensill Bank.

It pauses all enforcement actions between the South Yorkshire headquartered business and the subsidiary of the collapsed financial institution as it focuses on recovery.

Greensill Bank, part of Greensill Capital, is Liberty’s largest creditor on the business’s debt facilities, provided in 2019.

Read more:£26m British Steel Special Profiles upgrade given the go-ahead

The agreement lasts until October 31, with potential to extend until the end of the year.

Liberty said it will enable the company to develop a longer term sustainable financing structure, with detailed due diligence and information exchange continuing between the two parties.

A Liberty spokesperson said: “Today’s standstill agreement with Greensill Bank demonstrates we are getting close to a consensual debt restructuring that is in the best interests of all our stakeholders.

“We are working intensively towards a settlement with our major creditors in a timeframe which would obviate the need for a legal battle. Our core businesses continue to perform well and are operationally strong despite some economic headwinds.”

HMRC had filed then withdrew a winding up petition for Liberty earlier this year as progress with creditors was made.



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At Close of Business: Jordan Murray talks an Australian republic

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Journalist Jordan Murray discusses revived debate over the possibility of an Australian republic.



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